Google’s Stock Chart Wedge
Google has been consistently making new lower highs and higher lows over the last two months, and now the stock has set up quite the wedge pattern. Which side will break first?
The key technical factors to consider are on the support side the 50 day moving average. Very critical support line for Google right now. On the resistance side, you have this down trending line of lower highs that Google can’t seem to break above.
Take a look at this Google stock chart and see what I mean,
Click to view, click again to zoom
Personally I think that Google will form a small base here soon which will make for a great long entry point if it breaks it on strong institutional volume. The stock really hasn’t traded that much volume lately, and is do for some more intense price action as the pattern breaks.
As of this post Google is trading at a last of $703.15.
and if a breakout occurs, possibly a strong bullish signal??
arguably yes